New to betting? Or just seen something you don’t recognise?
Here’s a quick guide to the terms you’ll see most on Midnite.
The Basics
Bet
Putting money on a prediction.
Odds
Show how likely something is — and how much you could win.
Stake
The amount you put on a bet.
Return
Your total payout if the bet wins (stake + profit).
Winnings / Profit
What you make on top of your stake.
Types of Bets
Single Bet
One selection. One outcome.
Accumulator (Acca)
Multiple selections in one bet — all need to win.
Bet Builder
Build your own bet using multiple picks from the same match.
Each-Way Bet
Common in racing — you win if your selection places, not just wins.
Outright Bet
Backing a winner of a full competition (e.g. league or tournament).
Common Features
Cashout
Settle your bet early before the event finishes.
Live Bet (In-Play)
Betting while the match is happening.
Pre-Match Bet
Placed before the event starts.
Settlement
When a bet is settled and winnings are paid.
Void Bet
A cancelled bet — your stake is returned.
Cancelled Leg
If part of a multi bet is void, it’s removed and odds are recalculated.
Voucher
Bonus credit you can use to place bets.
Key Terms
Bettor
Someone placing bets.
Bookmaker (Bookie)
The company offering the bets (that’s us).
Place Bet
Backing a selection to finish within a set position (often in racing).
Popular Markets
BTTS (Both Teams to Score)
Both teams score at least once.
FGS (First Goalscorer)
First player to score.
FPTS (First Player To Score)
Same idea — first scorer in the game.
Match Terms
Full Time
End of normal play.
Half Time
Midway point of the match.
Overtime / Extra Time
Additional time played if scores are level.
Handicap & Advanced
Asian Handicap
Removes the draw by adjusting the score.
European Handicap
Includes the draw with adjusted scoring.
Other
Esports
Competitive gaming (e.g. CS2, LoL, Dota 2).
IBAS
Independent body that handles betting disputes in the UK.
Final Thought
If something doesn’t make sense, you’re not alone — betting has its own language.
Once you get the basics down, everything else starts to click.
Need a Hand?
Hit the chat button — we’ll talk you through anything.